Heartland Credit Union Mortgage Rates, Fees & Info

Hutchinson, KS

LEI: 549300CRPIDBSEMEY066

Tax ID: 48-0612011

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Heartland Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Heartland Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Hutchinson, Kansas City, Mcpherson, and Manhattan among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heartland Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Heartland Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.13% 3/27/24
30 Year Conventional Refi 6.74% 3/27/24
30 Year Cash-out Refi 7.08% 3/27/24
15 Year Conventional Purchase 6.08% 3/27/24
15 Year Conventional Refi 6.38% 3/27/24
15 Year Cash-out Refi 6.38% 3/27/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Heartland Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Heartland Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

767

Origination Dollar Volume (All Markets)

$116,205,000

Awards

HEARTLAND CREDIT UNION 30 Year Conventional Loans bronze HEARTLAND CREDIT UNION 30 Year Conventional Loans gold HEARTLAND CREDIT UNION 30 Year Conventional Loans silver HEARTLAND CREDIT UNION 30 Year Conventional Loans gold
Show all (4) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
WICHITA, KS (FHA|USDA|VA) 317 $53,215,000 $167,871 $1,948 3.56%
Hutchinson, KS (FHA|USDA|VA) 337 $44,795,000 $132,923 $1,920 3.66%
Outside of Metro Areas 58 $8,330,000 $143,621 $2,110 3.54%
KANSAS CITY, MO-KS (FHA|USDA|VA) 20 $2,930,000 $146,500 $1,829 3.51%
McPherson, KS (FHA|USDA|VA) 11 $1,625,000 $147,727 $1,951 3.87%
MANHATTAN, KS (FHA|USDA|VA) 2 $970,000 $485,000 $2,568 3.44%
LAWRENCE, KS (FHA|USDA|VA) 4 $890,000 $222,500 $2,916 2.97%
Salina, KS (FHA|USDA|VA) 4 $640,000 $160,000 $943 3.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $485,000 $485,000 $2,640 3.25%
Weatherford, OK (FHA|USDA|VA) 1 $475,000 $475,000 $3,376 3.00%
Ottawa, KS (FHA|USDA|VA) 2 $370,000 $185,000 $1,623 4.37%
Breckenridge, CO (FHA|USDA|VA) 1 $305,000 $305,000 $2,475 3.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $280,000 $140,000 $3,516 2.94%
Duncan, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,157 3.38%
Columbus, NE (FHA|USDA|VA) 1 $185,000 $185,000 $1,981 3.38%
Winfield, KS (FHA|USDA|VA) 2 $160,000 $80,000 $1,127 3.89%
Emporia, KS (FHA|USDA|VA) 1 $155,000 $155,000 $1,825 3.75%
Hays, KS (FHA|USDA|VA) 1 $145,000 $145,000 $559 4.88%
Ponca City, OK (FHA|USDA|VA) 1 $55,000 $55,000 $3,470 3.75%
Heartland Credit Union's top markets include Wichita, Hutchinson, Kansas City, Mcpherson, and Manhattan among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against HEARTLAND CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GOLDEN PLAINS
    Similarity Rank: 114
    SKYWARD
    Similarity Rank: 189
    Wichita Federal Credit Union
    Similarity Rank: 340
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 432
    Central National Bank
    Similarity Rank: 540
    Intrust Bank
    Similarity Rank: 616
    Members Mortgage Services, L.L.C.
    Similarity Rank: 693
    Citizens Bank of Kansas
    Similarity Rank: 732
    CREDIT UNION OF AMERICA
    Similarity Rank: 966
    MERITRUST Federal Credit Union
    Similarity Rank: 1261

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 766 $116,180,000 $151,671 $1,953 3.60%
    HELOC 1 $25,000 $25,000 n/a 6.25%

    For 2020, Heartland Credit Union's most frequently originated type of loan was Conventional, with 766 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 292 $41,940,000 $143,630 $1,803 3.72%
    Refi 262 $43,410,000 $165,687 $2,010 3.27%
    Cash Out Refi 155 $24,755,000 $159,710 $2,276 3.66%
    Other 36 $4,320,000 $120,000 $1,667 3.93%
    Home Improvement 22 $1,780,000 $80,909 $1,489 5.10%

    For 2020, Heartland Credit Union's most frequently cited loan purpose was Home Purchase, with 292 originations. The 2nd most popular reason was Refi, with 262 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 389 $63,925,000 $164,332 $1,962 3.59%
    15 Year 171 $23,445,000 $137,105 $1,940 3.47%
    20 Year 125 $21,285,000 $170,280 $2,023 3.47%
    10 Year 69 $6,335,000 $91,812 $1,903 3.90%
    Other 6 $730,000 $121,667 $983 5.60%
    5 Year 5 $295,000 $59,000 $1,178 4.69%
    1 Year 2 $190,000 $95,000 $3,160 6.00%

    For 2020, Heartland Credit Union's most frequently cited loan duration was 30 Year, with 389 originations. The 2nd most popular length was 15 Year, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 591 $89,995,000 $152,276
    $1k-2k 108 $15,390,000 $142,500
    $2k-3k 15 $1,895,000 $126,333
    $3k-4k 3 $595,000 $198,333
    $4k-5k 1 $255,000 $255,000
    $5k+ 1 $365,000 $365,000

    Heartland Credit Union's average total fees were $1,962, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 591 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 397 $58,395,000 $147,091
    2.5-3% 196 $37,710,000 $192,398
    4-5% 95 $10,975,000 $115,526
    5-6% 50 $5,290,000 $105,800
    <2.5% 14 $3,340,000 $238,571
    6-7% 14 $480,000 $34,286
    7-8% 1 $15,000 $15,000

    During 2020, Heartland Credit Union's average interest rate for loans was 3.59%, while their most frequently originated rate bucket for loans was 3-4%, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 353 $51,065,000 $144,660 $1,876 3.37%
    $100,000 or less 241 $15,295,000 $63,465 $1,806 4.20%
    $200k-400k 157 $41,845,000 $266,529 $2,297 3.19%
    $400k-600k 14 $6,390,000 $456,429 $2,546 3.67%
    $600k-1MM 2 $1,610,000 $805,000 $3,435 4.25%

    2020 saw Heartland Credit Union place emphasis on $100k-200k loans with 353 originations, totaling $51,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 173 $22,075,000 $127,601 $1,901 3.62%
    $100k-150k 168 $30,200,000 $179,762 $2,056 3.35%
    $50k or less 165 $14,525,000 $88,030 $1,759 3.78%
    $75k-100k 131 $19,575,000 $149,427 $2,026 3.52%
    $150k-250k 67 $15,875,000 $236,940 $2,081 3.28%
    $250k+ 20 $6,620,000 $331,000 $2,262 3.32%

    Heartland Credit Union lent most frequently to those with incomes in the $50k-75k range, with 173 originations. The second most popular income band? $100k-150k, with 168 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 191 $29,205,000 $152,906 $1,933 3.35%
    30-36% 131 $19,305,000 $147,366 $1,926 3.53%
    <20% 102 $14,610,000 $143,235 $2,059 3.49%
    40% 29 $4,515,000 $155,690 $2,039 3.59%
    38% 29 $4,495,000 $155,000 $1,923 3.60%
    44% 27 $4,505,000 $166,852 $2,088 3.54%
    37% 25 $3,705,000 $148,200 $2,060 3.58%
    43% 23 $3,975,000 $172,826 $1,930 3.54%
    42% 22 $3,390,000 $154,091 $1,681 3.59%
    36% 22 $2,930,000 $133,182 $2,062 3.77%
    41% 21 $2,925,000 $139,286 $1,662 3.95%
    39% 19 $3,645,000 $191,842 $2,229 3.51%
    45% 18 $2,630,000 $146,111 $1,868 3.75%
    47% 17 $2,555,000 $150,294 $1,957 3.76%
    48% 14 $1,740,000 $124,286 $1,828 3.74%
    49% 11 $1,875,000 $170,455 $1,834 3.36%
    46% 9 $1,425,000 $158,333 $1,852 3.44%
    50-60% 5 $515,000 $103,000 $1,712 4.23%
    >60% 3 $345,000 $115,000 $2,135 4.29%

    Heartland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 191 originations. The next most common DTI ratio? 30-36%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 648 $98,160,000 $151,481 $1,973 3.52%
    Not provided 64 $8,880,000 $138,750 $1,734 3.71%
    Not applicable 41 $6,935,000 $169,146 $0 4.75%
    Asian 3 $805,000 $268,333 $2,165 2.88%
    American Indian 5 $705,000 $141,000 $2,152 3.28%
    Black 4 $430,000 $107,500 $1,948 3.72%
    Other Asian 1 $215,000 $215,000 $3,053 2.88%
    Native Hawaiian or Islander 1 $75,000 $75,000 $1,020 5.13%

    Approval Rates

    Total approvals of all applications
    89.78%

    Heartland Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.62%

    Heartland Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 767 $116,205,000 $151,506

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $535,000 $535,000
    Single Family (1-4 Units):Manufactured 7 $715,000 $102,143
    Single Family (1-4 Units):Site-Built 759 $114,955,000 $151,456

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,060,000 $79,231 $1,777 4.35%
    40-60% 73 $10,415,000 $142,671 $1,971 3.43%
    60-80% 308 $48,710,000 $158,149 $2,027 3.56%
    80-100% 344 $54,190,000 $157,529 $1,940 3.55%
    Under 20% 14 $580,000 $41,429 $987 5.43%